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Santorini

Started by sumday
over 15 years ago
Posts: 10
Member since: Mar 2010
anyone know anything about this building?
Response by joseesq
over 15 years ago
Posts: 176
Member since: Apr 2010

Make sure you look at the non-model apartments to make sure you feel comfortable with this place. It may be just things that can be easily fixed, but there many places within the non-model apartments that indicate water damage. For example, a lot of the floors had water stains and the bathroom ceilings had water bubbles in the ceilings, indicating leakage. On the bright side, most of units were spacious.

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Response by joseesq
over 15 years ago
Posts: 176
Member since: Apr 2010

Ooops, typos!

===
Make sure you look carefully at the non-model apartments to make sure you feel comfortable with this place. It may be just things that can easily be fixed and are not a big deal, but in my view of the non-model apartments, I saw a lot of places that indicate water damage. For example, a lot of the floors had water stains and the bathroom ceilings had water bubbles on the sheet rock, indicating leakage. The floors also seemed loose and squeaked a lot. Again, these may be minor things that can easily be fixed by the developer. I definitely would recommend a professional inspector/engineer doing a walk through. On the bright side, most of units were spacious, decent appliances and nice sized bathroom with nice tiles. Also, and the N train was less than 2 blocks away. It’s not located in the most “prime area” of Astoria, though.

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Response by lieb
over 15 years ago
Posts: 2
Member since: May 2010

I think that its a beutiful building and it is priced very well.

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Response by yeahqueens
over 15 years ago
Posts: 12
Member since: May 2010

I checked out this building a few days ago. The units are huge and well laid out.

Only the model units are fully complete, the rest of the units and common areas are in various states of near completion. There were a few units that had water damage. I was told that the contractor had accidentally left the water on in one unit and that had resulted in some flooding. They are tearing up and replacing the floors and dry wall in that unit.

I'm no expert, but I think it is going to be a great building. I was told that they had a few accepted offers already.

I'd like to know more about the building and neighborhood though. Can anyone comment on the build quality of the building itself? Have these developers built anything else?

With asking prices in the low 500/sqf, does Santorini sound like a good investment?

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Response by kc74
over 15 years ago
Posts: 5
Member since: Jan 2010

Yeahqueens: i'm not sure you'll be cash flow positive if you intend to buy on mortgage and rent the apartment out. Rental price in Astoria is much lower than in LIC. Obviously there hasn't been as much brand new apartment rental in astoria. I do like the spacious layout but am a bit concerned about the block in which Santorini is located. The neighborhood's building layout is very uneven and inconsistent.

The surrounding area is quite convenient though, with many supermarkets, cafe, and restaurants.

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Response by stevejhx
over 15 years ago
Posts: 12656
Member since: Feb 2008

Nothing about the building, but the island is nice.

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Response by rcap
over 15 years ago
Posts: 81
Member since: Nov 2008

Hey kc74! what's going on with the block Santorini is on? What is the going rental price for a unit like Santorini? Thanks for any input.

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Response by rcap
over 15 years ago
Posts: 81
Member since: Nov 2008

Anyone been to the open houses? Thoughts on this new build?

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Response by hanakyo
over 15 years ago
Posts: 7
Member since: Apr 2009

I came across this building on Streeteasy today, and want to go check it out maybe tonight. I'm too looking for an investment property, and I'm concerned about the kind of rent you can get in Astoria. Does anyone know % of units in contract so far? Thanks for any inputs!

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Response by jackm1
over 15 years ago
Posts: 6
Member since: Feb 2009

kc74, what is your concern about the block? And what is wrong with the building layout being uneven and inconsistent?
rcap, you can see the rental prices if you do a craigslist search, for example I would say the nice new 1br in astoria will go for around 1700.

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Response by rcap
over 15 years ago
Posts: 81
Member since: Nov 2008

I have seen those listings but I'm not familiar with the quality of those other new buildings. It also seems Santorini is closer on the train line and not sure if that will equate the same way it does elsewhere.

I checked some of the units at an open house and it seems there is 1 line of the 1bdrms that is nice and was told most of those are in contract.

All in all its pretty nice.

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Response by yeahqueens
over 15 years ago
Posts: 12
Member since: May 2010

rcap, any idea of how many units they have in contract now?

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Response by rcap
over 15 years ago
Posts: 81
Member since: Nov 2008

Sorry I don't know what % or number of units.

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Response by rchiu91
over 15 years ago
Posts: 3
Member since: May 2010

@yeahqueens, one of their brokers said they have about 8 or so units under contract. I like the building. we were looking at the 3BR, but the sponsor is not going to budge and someone bought a 3rd floor unit that locked the prices for the line. sucks. may start looking at the 2brs soon in case we need to rent it out later on...a lot easier to rent out based on the astoria rental market as some have mentioned. we went to check out all the condos in astoria and i have to say that this one is the best in terms of location to the train, relative safety, supermarket, even view if you have the ones facing west. their measurements are a bit off...not sure if they are using the exterior wall vs. the dry wall to give measurements.

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Response by fatty
over 15 years ago
Posts: 7
Member since: Aug 2010

I saw Santorini recently. I thought that the place lacks a lot of details.

The floors were less than impressive. They were dull uneven in some places. You can see that the painters weren't the greatest because there are many imperfections on the edges in a lot of places, and I am talking about the model units here.

The bottom molding and door frames had no design or details on them, they were literally just pieces of flat wood boards cut up and nailed to the wall. If they are advertising Santorini as a luxury complex, I don't see why they would do that. I have never seem moldings and door frames made out of rectangular pieces of wood with no design to them.

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Response by joseesq
over 15 years ago
Posts: 176
Member since: Apr 2010

I would be careful about leaks at Santorini. When I visited during opening weekend, I saw water stains and other indices of water damage. I thought the biggest pros were the spacious layouts and closeness to the train.

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Response by fatty
over 15 years ago
Posts: 7
Member since: Aug 2010

Anyone else has more information about the leaks? I am thinking about the 5th floor and know that they had some water damage. Need to find out how serious this issue is.

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Response by sniper
over 15 years ago
Posts: 1069
Member since: Dec 2008
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Response by NYC411
over 15 years ago
Posts: 56
Member since: Oct 2009

Does anybody know if it's tax abated, and if so, how long is the abatement and how one can get the schedule of increases??

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Response by yeahqueens
over 15 years ago
Posts: 12
Member since: May 2010

There's a 15 yr tax abatement. I'm told that details on increases is spelled out in the offering plan.

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Response by dirrtyburg
about 15 years ago
Posts: 9
Member since: Sep 2010

Any updates on this place?

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Response by rcap
about 15 years ago
Posts: 81
Member since: Nov 2008

Seems like nothing is going on with sales. They just relisted everything...

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Response by Pickyasheck
about 15 years ago
Posts: 8
Member since: Nov 2010

Rcap, i don"t think that is correct. I just went back after a couple of months and they have 16 apatments spoken for. they have apatments sold or contracts out not listed here(4th & 5th flr). I was told that the abate certicate was approved, they just need to start closing to finalize paperwork. They seem to progress quite a bit from the last titme I was there. I even saw some moldings being ready to be installed that had some character.

As for the water damage, I am happy it happned already and was addressed. I used to be in construction and every building has water leak issues at some point, better to find it early then when people move in. There have been torrential downpours the last few weeks and I couldn't find any signs of water damage when I went.

I am still watching the progress of construction because i plan on buying a place there. I have not found anything this BIG, livable and priced nicely per sqaure fooot(i think the lowest for a new construction in Astoria). I have seen other places trying to kill me on ppsf for small apatments in astoria. And I can't beat the time it takes me to get to work from here.

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Response by drujan
about 15 years ago
Posts: 77
Member since: Sep 2009

I went to an open house today. A couple of lines layouts are good, some are okay, others bad. The views are not nice, with very few exceptions, and the price is ridiculous. Why buy a one or two bedroom apartment if in this nabe you can get a one or two-family house with parking for the same price?

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Response by Lookin4adeal
about 15 years ago
Posts: 1
Member since: Nov 2010

Drujan, Please let me know where I can find that one or two family . all the decent ones I've seen are much pricier or need a lot of work(updating, etc;)and don"t have a great view either(as a matter a fact, I don't think any of them had what is a considered a view at all).

I do agree, some of the apartments at this building have nice layouts and are quite large. The 2 and 3 bedrooms have as much square liviable footage, if not more as many of the houses in the area. and in this, case, I don't have to worry about boilers, roofs, old plumbing and electric and such. But if you know a good deal on a house with a view, please let me know.

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Response by rcap
about 15 years ago
Posts: 81
Member since: Nov 2008

Anyone currently in contract care to comment if they are negotiable? Much appreciated.

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Response by Pickyasheck
about 15 years ago
Posts: 8
Member since: Nov 2010

Rcap, It seems that they are negotiating. the selling agent tells me that all the contracts had some form of negotiation whether on price or concessions(i.e. closing costs) He wouldn't tell me how much but he did say that any "reasonable offer" would be entertained. Hope that helps.

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Response by piets01
almost 15 years ago
Posts: 1
Member since: Feb 2010

Two neighborhood persons told me this building was there forever (more than 5 years possibly). Do you know anything about the builder's financial situation ? For a new construction what happens if you buy one but later builder can't sell the rest (those not so good units) for a long long time or even bankrupt ?

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Response by cnssu123
over 14 years ago
Posts: 4
Member since: Jun 2009

HI,

I went to the open house today, I do like the layout and the space. But I am still seeing water leaks. and one of the apart we saw, the floor and a hugh bump, the cabinet doors were uneven. I also hate their sink installed so low.

I am really skeptical about the quality of the apartment. I also heard that the building changed a few construction company, which also make me very skeptical about the quality of the building itselfs.

The common charge listed here is fairly low, but they are suppose to have a doorman. Is that even include in the common charge?

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Response by joseesq
over 14 years ago
Posts: 176
Member since: Apr 2010

Sorry to hear water damage is still noticeable. That's what made me walkaway from this building. The sponsor is paying for the doorman for a while until the Board is in place and owner controlled. After that, the owners will have to decide what to do. Hence, common charges are likely to go up if they keep the doormen.

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Response by cnssu123
over 14 years ago
Posts: 4
Member since: Jun 2009

I just went back again, trying to justify between the price and the quality itself. Obviously the pirce are very good in terms of psf, but I guess its the you get what you paid concept.

I walk down the building stairs today, I notice all the wall are poorly done. In most of the aprtment units, the wood floors are all uneven in terms of the length.

I think everyone in contract should reconsider. This place is really not a great investment. Unless buyer don't plan to sell in the future. i also feel that there will be a lot of problems with the units in the future, those are unforeseeable cost that everyone should think about

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Response by Pickyasheck
over 14 years ago
Posts: 8
Member since: Nov 2010

Cnssu123, that's not fair to make comments like that, trying to dishearten buyers in contract. I am a buyer and am very happy with my purchase. You are very much entitled to your opinion about the building, but Please keep your investment advice to yourself. If you are scared to move forward don't put that fear onto other people. Joseesq, I see you have posts from several months ago, and you didn"t purchase at Santorini. So, have you purchased a home as of yet? If yes, where?

I consider myself a fairly savvy and astute buyer. It's funny, I had the same concerns you, Joseeq and Piets have discussed so I really delved into them and grilled the listing agent on these issues. Here are my findings: Ask the neighborhood people if they are on the community board because the building was designed as a 9 story building and foundation was put in as such, then the community board and BSA decided that they would only allw a 6 story building. So structurally the building is quite secure. I examined the beams in the cellar and they are the type that huge commercial buildings so that made me quite happy. as I said in my previous post, my background is in construction so I think I have a good feel of quality of construction.

As for sellers financial strength, I found that they are Diamond wholesalers who have clients such as Tiffany's, Nieman Marcus,Harry Winston and international operations . Now, I don’t know about you but that makes me feel a whole lot better about the financial strength plus the fact that I have seen considerable progress at the building over the months. Also, sellers like that care about their reputation, don't you think?

Cnssu, of what I read you are complaining about cosmetic issues. I am having the sinks raised and wood floors can be replaced. Cosmetic issues are easily addressed. Like I mentioned, I am more concerned about the structure and mechanical systems which thus far seem fine. I look forward to my walkthrough. The water leaks are a legitimate issue. So, after the major snow storms and rains we had I went to got look at my apartment and the building again, and guess what, no NEW water leaks or damage. What I also found is that they are focusing on getting everything ready for inspection by the city so they can begin closings(wooohooo) and that the cosmetic issues in apartments have not been addressed yet but will be taken care of one by one. They will work on the homes already in contract first. With that said you always have the option of hiring an inspector to check it all out before you purchase or close.

You are right about one thing, the ppsf is amazing at the asking price for a majority of the apartments and the sellers are still willing to negotiate like they did with me. So, I feel like I got great space for a great price and will be more than happy in the years to come.

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Response by cnssu123
over 14 years ago
Posts: 4
Member since: Jun 2009

Pickyasheck
I am sorry if i upset you with my comment.

Like you I understand there are a lot of cosmetic issues that can be fixed, like you i am also concern about the building structure. All i am saying is be caution. I am also concerned about the resale value of the units.
I also see a lot of flaws in the model unit, which is suppose to be the perfect apartment. When I said the wall by the stairs were poorly done, I meant they are all sticking out. That also heightened my concern about the quality of the actual building.

But hey, if you found the apartments you like and fit your budget, good for you. I congratulate you. At the end of the day, everyone has diff needs for their home or investments.

I am assuming people read this forum are trying to get advice, info and opinions about the building. Again I am sorry if my two cents upset you.

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Response by joseesq
over 14 years ago
Posts: 176
Member since: Apr 2010

I guess you are trying to suggest I have an agenda. I liked the layout of the units, the bathrooms and closets were spacious. However, I didn’t feel comfortable with this building because of the aforementioned water damage/leaking problems. I have experienced water damage in the past, and I can tell you that it can turnout to be a big deal – especially in a condo where it is tough and expensive to locate the source of a leak.

These boards are about sharing information and sharing experiences. I was just sharing my observations about this building so that others may have the information and make an informed decision. I never opined about whether buying here was a good or bad decision.

It took almost a year, but I did find a place.

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Response by Pickyasheck
over 14 years ago
Posts: 8
Member since: Nov 2010

Congrats and was just asking. I appreciate your feedback.

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Response by Pickyasheck
over 14 years ago
Posts: 8
Member since: Nov 2010

Cnnsu, I reason, I shouted you out is because your putting a negative spin on future values when the apartments(atleast in my case) have been sold below the current ppsf for the Astoria market hence gives us buyers a great chance of not only having a great home, but a good investment. Here is my advice and opinion for you, contact the listing agent and have him walk you thru and grill him with as many questions as you can. I believe that will give you alll the information available to make an informed decision.

Joseesq, Again congrats...I truly understand concerns about water leaks. So am I, that's why i waited until they sealed up the building then came back to look at the homes. I even came back when there were torrential down pours and double checked after the snow. It's the only reason why I moved forward even though i had loved the space, i had to be sure and comfortable.

Good luck to both of you,

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Response by yeahqueens
over 14 years ago
Posts: 12
Member since: May 2010

Hey Pickyasheck!

I'm in contract as well. I'd love to talk to you more offline. Could you please email me at yeahqueens@gmail.com?

Thanks,

Ali

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Hello,
Any one have an update regarding the C of O?
Or when anyone in contract expect to move in.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

Good thing I found this board...I am also in contract. I've been keeping in touch with the agents regularly, and, according to them, the last inspections are on Friday and Monday. They've been rescheduled before, though...

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Response by helphome
over 14 years ago
Posts: 110
Member since: Feb 2011

hey picky whats an apatment?

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Response by spiceasy
over 14 years ago
Posts: 2
Member since: May 2011

Anyone have any updates on the Santorini. I am also in contract there, and have been waiting for a while to get a definitive closing date.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I am not in contract but I am interested in Santorini.
Here are my views as an owner of a plumbing sprinkler and hvac company (commercial).
This building is not near completion. Just a basic check on the DOB website (Open to public) shows they are lacking in many basic inspections. The inspections performed to date is only PL underground,roughing & gas. There is no SPK inspections done to date. During my walkthrough I noticed that the SPK heads were too far apart and does not provide enough coverage per code. Maybe they can get away with a no show at the inspection which would warrant a self certification by master plumber. There are also two violations in the system for the elevator. To get C of O all violations have to be removed, but we are too far ahead, to get TCO you at least need your basic inspections done. O yeah, gas finish isn't done too. That inspection is annoying and that requires the inspector no if and or buts.

As a businessman here is my view on the building. They are not negotiating therefore they know they are not in a rush to reach 50% occupancy. If they claim they are close, they would be negotiating to get at least 50% and tighten up for the last 50%. The are not negotiating. Why would I buy now and put myself at risk when #1 prices are only going down #2 Building is not compete #3 Sales have stalled.

I understand you lock in you apartment that you like, but is that really worth an additional 10-30k you could have possibly negotiated further down the line? I can see if that is THE ONLY unit in the building that is for you than sure, lock yourself in but i like to keep my option open and get the best price I can get.

I am not worried about the leaks nor should you. As you know by now, I have no agenda. Leaks just happen. The best plumber in the world can't stop all the leaks. No plumber knowingly solders pipes together hoping for a leak. The plumber is the on that get burned for the damages. What is everyones worry about a leak in a building? One leak = more leaks later? What do you think is behind the walls that will permanently be damages due to temporary wetness? prolonged moisture can produce mold but there is no moisture now is there? and no visible mold? No problems. Relax, leaks are normal and its better it occurred now than later. Likely, they retested the pipe after with added pressure.

What I am worried about is fiancing for the job. Seems like the job is underfunded therefore the progress is slow. Projects have been stalled everywhere but this project should be okay considering the percentage completed.

Feel free to disagree, I'm open to a discussion.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I love the layout and 800sf is just the size I'm looking for. My office is close by. This is why I am still a watcher and not a passerby.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

babuxnga - how did you find the inspection records at http://www.nyc.gov/html/dob/html/home/home.shtml ?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Red- Use the BIS Query. Enter address. building will pop up. There will be a link for Plumbing inspections. That includes Gas SPK and obviously PL.

For reference, try this address 5 e 44th St, ny ny (one of my projects). Same thing. You will see a much more complete list of inspections performed.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Building information system (BIS). Right side of the link you sent.
PLumbing inspection Link is Bottom right aftee you enter the address.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I just came by today for a preliminary (cosmetic) walkthrough. According to the agent, the only thing that is left are "paperwork objections" which they are straightening out this week; all inspections have supposedly been passed. Regarding inspections, he said the website will most likely only be up-to-date after the C of O is issued.

As far as the building, I didn't see any leaks at all, neither in my condo (4th floor) nor in the demo unit (1st floor). It looks good for the most part. Nothing major was wrong as far as I could see... but that remains to be determined in the final walkthrough.

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Response by yeahqueens
over 14 years ago
Posts: 12
Member since: May 2010

Red - Did the building and your unit look like they were a ready to move in condition?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Lies. Complete Lies. In fact it doesn't even makes sense if you think about it. C of O means the building is certified to have people live in the building. How can they apply for that Certification when the building isn't complete. They are now claiming that it will all be done at the same time? I smell B******T!

Basically, to even begin thinking about he C of O, the building has to be 100% Complete. Even at 100% complete the inspection rarely EVER gets a pass first time around.

There is a particular inspection I know they can't have completed and that is Plumbing Finish. For obvious reasons such has missing fixtures should be enough to make that inspection impossible to have been complete.

Lies. Just like they said they expect people to move in early May. Worse case, End of May. RIIIIGHT.
I would rather agents admit they don't know squat than to make up lies to get people in contract early.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Trust me on this. They can't even apply for a C of O inspection if the basic inspections are not registered in the DOB database. Basic procedures. Just like finish inspection can't come before roughing inspection
.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

1) The condition was pretty good - a couple of small holes here and there that they promise to patch up, but pretty good overall. Basically, everything except the paint (per my own request) and the kitchen appliances were there.

Based on conversations with the agent:

2) As far as inspections - he said again that the inspections were all done, wasn't sure why they weren't up to date online. Not sure if there is any reason to lie here.

3) For C of O, he says the building can still be worked on, just be in a livable condition. Is this true?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Yes, it is true for TCO.
My agent told me end of July for sure.
Skeptical, but at least he acknowledged that the initial estimate of beginning of May, no later than end of May was grossly inaccurate.

He might just me misinformed regarding the inspections. He is just an agent after all. Majority of the plumbing is done.They are working on the Sprinkler inspections. Seems like there is another one tomorrow.
Likely, gas is next. It can't just not be updated yet. The site just updated with the results of their latest inspection. I would imagine they are in a bit of a tough situation being in the middle of the sponsor and buyers. They are likely just saying what they need to in order to get some heat off of them. I just wish they were more informed or a simple "I don't know", rather than making stuff up as they go.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

Yep, I agree with you about the agents. They probably are not being told the true situation in its entirety. I also want an "I don't know answer", only because I can figure out where to live in the meantime!

Also, I saw that there was an inspection today: http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=41108567&requestid=2

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Response by zena
over 14 years ago
Posts: 6
Member since: Jun 2006

Can apt be occupied if they get a TCO?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

Yes. It's the same as a C of O except they have to keep reapply for it until they can get the final CO.

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Response by zena
over 14 years ago
Posts: 6
Member since: Jun 2006

Thanks for the info..Your comments are really valuable and helpful

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

Latest update: http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=41108567&requestid=2 claims all inspections from 5/31 are passed, and so does the agent. He says they should receive the TCO in 2 weeks, and there is nothing blocking it except city paperwork/bureaucracy.

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Response by yeahqueens
over 14 years ago
Posts: 12
Member since: May 2010

Thanks for the update.

Can anyone decipher what this means:

http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionObjectionsServlet?requestid=3&passworkordernumber=41108567&allbin=4004106&transactionkey=Y

Seems like there are still some requirements prior to a sign off?

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Response by Chudrok
over 14 years ago
Posts: 2
Member since: Jun 2011

Hello everyone, I am in contract at the Santorini and I too have a few concerns about the building. I will definitely be hiring an inspector to give me a low down on the building. Does anyone have any recommendations for an inspector that is familiar with condos in queens?

Also, is anyone that's in contract at Santorini concerned about the exposed pipes that are coming straight out of the wall units and going directly though the floors? I've seen many wall units and this is the first time I've seen this happen.

Is anyone concerned about the other common spaces that are yet to be built, ei. Children's room, gym and outdoor court yard. I went to the basement and did not find an area blocked out for the gym and childrens play area. I question if the developer will finish these projects. I have a feelings that's why the CC are so low right now. Please let me know if your in contract and want to share more info privately. Thanks all!!!! This is a great site.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

yeahqueens - I asked my agent about that, he said it refers to the "documentation objections" that the city asked to be fixed (something involving the architectural plans). He said that these were taken care of.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

On the Plumbing side, they still have the gas test inspection and the gas finish to do (gas using fixtures installed). Plumbing finish inspection also has not happened yet (need fixtures installed).
Seems like all the gut work is done. Just need the fixtures put in. So not quite there yet, I can see how they might be able to apply for tco in two weeks, tight though, assuming they have all the fixtures on site. Fire Alarm is good to go (pain in the butt inpection sometimes).

There is also two violations with the elevator. More than Likely an issue with paperwork, should be easy to remove.

Yeah queens- it's just like reedbullet stated. Likely just documentation problem, important thing is the inspection passed, meaning it was an issue not enough to fail the inspection.

Anyone concerned about the 50% occupancy requirement? Sponsor really isn't budging much on price and 50% still far off. I've done building the past stuck at 40% and converted the whole building to rentals.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

One thing I've noticed is that they pulled the prices back up as soon as they hit about 30%, so that's a sign they are not concerned about getting 50% in

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

As far as the gas tests, the agent said that those are included in the 2 week TCO calculation. That was a week ago, gonna try to follow up with him today or tomorrow. I'm still optimistic about a July closing... we will see though.

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Response by JPCrecom
over 14 years ago
Posts: 22
Member since: Aug 2009

Anyone know what these things are actually selling for? I notice that a few of them have been raised in price nearly 10% in the past 6 months, which is quite surprising given the very poor real estate market.

Just notice that there is an open house there tomorrow and am curious about maybe starting my search for buying a place since my lease expires in November.

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Response by brigitte
over 14 years ago
Posts: 20
Member since: Dec 2008

Any word on the likelihood of a July closing date?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

PCcrecom- They Sponsor is confident that they have the best units in the Astoria Market today. As you have encountered during your search, there really isn't anything nice available. As result, they are not budging much from asking. Their Contract is also somewhat troubling. Deal is looking to go sour for me regarding a clause that I just can't agree to.

I think they have open house everyday.

Brigitte- I don't see it happening.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011
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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I received update from Harold V. TCO is expected this week.Cross fingers.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

yep, that's what he told me yesterday, with "98% certainty" according to him. Definitely hoping this is true...

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Response by LilG
over 14 years ago
Posts: 13
Member since: Apr 2011

Hey everyone, I am also in contract at Santorini. I cant wait to hear that people have started the closing process... Each time I hear back from the agent he says they are very close to obtaining the TCO. Does anyone know if they received the TCO?

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Response by brigitte
over 14 years ago
Posts: 20
Member since: Dec 2008

Not that I've heard. They've been "this close" to getting the TCO for weeks, according to them. Sigh.

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Response by AnneA06
over 14 years ago
Posts: 14
Member since: Nov 2010

So we called the sales agent to find out what's going on and he said that by Thursday...for some reason I don't see that happening.. Does anyone know if this is a normal waiting period, in terms of time? Considering the fact that it is a new development?

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I know for certain this is not normal. Based on the history of this building to date, especially in regards to the 5 year build time, nothing about this is normal. Then again, Construction never seen an economy quite like this before either.

At least there is progress. When I first inquired about TCO, their lead time for the TCO was "months", cut down to "sometime this month", to "end of this week", and now "Thursday" as reported by Anne. heh.

Anne, I agree, I don't see it happening this Thursday. However, I feel more confident we are close based on their estimates for acquiring a TCO being increasing shorter and shorter. I can't imagine they would put themselves in a position to be hounded by Contract holders on a weekly basis by shorting their estimate for acquiring a TCO. They must feel themselves that they are close.

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Response by mwade
over 14 years ago
Posts: 137
Member since: Mar 2009

They might be close, but I know from personal experience that the sales agents will go week to week like this with their 'predictions' just to keep the buyers happy. To be fair, they are giving the best answer they can, but they don't really know for sure when it's coming. I don't know why they aren't a little more transparent with buyers on this issue.

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Response by AnneA06
over 14 years ago
Posts: 14
Member since: Nov 2010

The thing that sucks about this situation is that you can'tr really buy furniture until we know a real timeframe...so I have to guess that they must be close but how long can this back and forth take? I took a look at this link that Rebullet posted 6 days ago but I really am no expert in figuring out what this all means. One thing I will say is that the latest date on that report is 7/06/11- why are they moving so slow!!

http://a810-bisweb.nyc.gov/bisweb/OutstandingObjectionsServlet?requestid=4&passjobnumber=401291641&allbin=4004106

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I am fighting a phone battle - trying to get through to the construction manager, since neither the sales agents nor the closing manager cannot give me a real answer. From talking to all of them, I do get the feeling that they are very close, and very frustrated themselves.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I wouldn't trust the dates of what is posted online - it is subject to random data entry delays by city government workers...

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Response by mol3
over 14 years ago
Posts: 4
Member since: Aug 2011

Im so glad I found this board, especially as a first time home buyer.

I am about to make an offer but after reading all these comments above, I am having a second thought.

This is a very general question and might get various feedback....but would you recommend purchasing Santorini especially from a resale point of view?

Thank you so much for your feedback!

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Response by mol3
over 14 years ago
Posts: 4
Member since: Aug 2011

Hi there,
Would you recommend purchasing Santorini from a resale point of view?
I am a first time home buyer and would really appreciate any kind of feedback.

Thanks much!

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

Personally, I am curious how long the TCO process takes for similar, new, ~60 unit condo buildings in New York. Does anyone have any experience?

As far as TCO, they are almost sure it will be done today. Not a guarantee, but still better than "next month", "next week", or even "tomorrow".

From a resale point of view, I think it will be great - it is in a growing neighborhood (both on the Astoria and LIC side). All these TCO issues are a one-time problem, and they may have as much to do with the city as the development. Plus, I heard rumors that funding issues and a lawsuit delayed the construction in its middle stages, but they got over that.

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Response by AnneA06
over 14 years ago
Posts: 14
Member since: Nov 2010

well now the 'newest date' that they are aiming for is the end of August...

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I can sort of explain what has been going on. This whole time i believe they were trying to get gas authorized. To do that the still need to pass sprinkler. You can't get gas if you are not protect in case of a fire right? If you haven't noticed yet, they just passed the spk Finish. Now they will apply for gas authorization which effectively finished everything up on the plumbing side (there is still a plumbing finish but that is really easy assuming they have fixtures,stove,fridge,etc. bought). After, they must clear up any violations and submit all sorts of paperwork before they can call for a TCO inspection (there are a lot and will take time). So now they can apply for a TCO.To get the TCO, there is an inspection, 99% of the time, the TCO inspection happens 2-4 times due to small infractions that almost always happens. Another month seems like a good guess when they should be ready. I would be surprised if they went another two months.I am only speaking on behalf of the plumbing side.

Basically, the TCO has not been applied for yet. There are still inspections pending before they can even begin applying for the TCO.

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Response by LilG
over 14 years ago
Posts: 13
Member since: Apr 2011

babuxnga - Thanks for your comment, this is very helpful.
Did you speak with the seller or a broker to find this information out? How do you know about they are trying to get gas authorized? I am a new buyer and am not familiar with what needs to be finished in order for the TCO to be submitted and approved.

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Response by spiceasy
over 14 years ago
Posts: 2
Member since: May 2011

Well just to give everyone an update. I was in contract. Keyword "WAS". We had an out clause in our contract and we used the clause and have now gotten our money back as we got sick of waiting. The date just keeps slipping and when we discussed some deterioration in the apartment (paint pealing, floors scuffed, gaps on the floor) with the agent he told us "it's the building settling and is completely normal". This annoyed us to the point that we walked away. I wished this had worked out better, as I did like the location and the idea of what the building should provide, but I just didn't feel comfortable hoping they get things right after getting so much wrong!

Well good luck to the rest of you! :)

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

Not sure if I personally see a reason to get out...the floor finish was rough in places, but they promised me it would be fixed. I did a detailed inspection with a builder in my family a week ago, and he found many small problems, but was pretty happy with it overall. Based on the link I pasted below, gas has been authorized, so hopefully we are getting there... I also have an out clause, but I am holding on to it unless they delay this for another month-2.

http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?requestid=5&passworkordernumber=41113175&allbin=4004106

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Response by mol3
over 14 years ago
Posts: 4
Member since: Aug 2011

Hi redbullet 64, do you mind sharing the small problems that you found during the inspection?

I emailed the agent Harold earlier today asking for the expected date to get the TCO, haven't heard back from him as of now but would be happy to keep everyone posted if he does get back to me..

Thank you

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

sure - they are mostly finish issues (floor, paint stains in the bathrooms, gaps between sink/bathtubs and walls, missing window cranks), and some of the holes below water sinks were unpatched. They promised to fix everything.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I just spoke to Leah (closing manager) - according to her, they failed an inspection today which they passed 2 years ago, only because the inspector could not gain access to an area underground which is supposed to be closed with concrete (http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=41113308&requestid=2). According to her, they have an emergency meeting tomorrow morning with the DOB commissioner, since they are getting pissed off about the paperwork problems. I drafted a letter to the DOB to try and help expedite the process, which she says may help speed things up. I may not necessarily believe everything they tell me, and it's not necessarily going to speed things up, but it's worth a shot. If anyone else wants to do the same, my email address is sshchuki AT barclayscapital DOT com - I will email her whatever I get by tomorrow morning.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

link isn't opening up...to get there, go to http://a810-bisweb.nyc.gov/bisweb/JobsPlumbingInspectionQueryServlet?requestid=1&allbin=4004106 and look for the inspection on 8/16

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Response by brigitte
over 14 years ago
Posts: 20
Member since: Dec 2008

So, am I reading this right? The inspection looks like it's rescheduled for September 8th? If so... sigh.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I just talked to her - they are saying the main TCO inspection is Friday.

I asked her to set up a meeting with the construction manager, which would be open to all interested residents.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

From what I understand, the inspection issues are down to *one*:

1) According to the closing manager, all cellar/underground inspections were all done in 2008-2009. I found records here:

http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=40816668&requestid=2
http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=40913048&requestid=2

2) The inspection link from yesterday (http://a810-bisweb.nyc.gov/bisweb/GasServiceInspectionResultsServlet?allbin=4004106&passworkordernumber=41113308&requestid=2) contains the entry "I62A - STORM DRAINAGE PIPING UNDERGROUND".

This entry does not appear in the 2008/2009 records. She claims that this was done and self-certified, but was not put on record. To do this inspection, they have to tear down the concrete entrance, which is a big deal, if you believe them that the inspection was done and passed (without being recorded properly) years ago.

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Response by LilG
over 14 years ago
Posts: 13
Member since: Apr 2011

redbullet64 - thank you for the update. I spoke to the broker this past Saturday but there was still no clear indication that they know when the TCO will be granted, but they know that people are eager to move in. When will you speak with the construction manager?

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

The brokers and agents are completely useless in this case. I would not believe a single word from them, they are making all the estimates themselves. I believe there is a significant breakdown in comminucations before it gets to them. She said Monday, but I want to set it up for Friday, if I can.

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Response by babuxnga
over 14 years ago
Posts: 26
Member since: Apr 2011

I've heard on instances where the underground piping can be inspected through a video inspection (a camera pushed through the pipes) and signed-off by the engineer. It might be something to bring up at the metting because it could produce faster results rather than breaking the foundation.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

FYI - got the meeting set up with the construction manager, on Monday at 6:30pm, at the building. If you want to participate as well, let me know, sshchuki AT barclayscapital DOT com.

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Response by brigitte
over 14 years ago
Posts: 20
Member since: Dec 2008

redbullet - I think my husband emailed you about the meeting.

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

yep, he did. The more of us there, the more questions, the better

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Response by LilG
over 14 years ago
Posts: 13
Member since: Apr 2011

Where will you guys be meeting at 6:30pm? Will you be in front of Santorini? I am planning on joining to meet the construction manager. Also, what is the construction manager's name?

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Response by redbullet64
over 14 years ago
Posts: 54
Member since: Apr 2011

I am guessing we'll start in front of the building at 6.30, then go inside the building as questions arise

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